The Global Axial Spondyloarthritis Management Industry exhibited a market size of US$ 4.22 billion in 2022, projecting a remarkable surge to reach US$ 7.3 billion by 2033, with an impressive Compound Annual Growth Rate (CAGR) of 5.1%. This notable growth is attributed to the escalating incidence of axSpA and the growing demand for advanced therapeutic solutions.
In the historical period spanning 2018 to 2022, the market for axial Spondyloarthritis management experienced a substantial CAGR of 3.5%, laying the foundation for the current and future expansion.
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In addition to biologic therapies, the market for other axSpA management strategies is also growing. The use of biosimilars, which are similar but not identical to biologic drugs, is becoming more widespread as a cost-saving measure. Physical therapy and exercise programs are also growing in popularity as complementary treatments to biologics, as they can help improve mobility and reduce pain.
Key Takeaways from the Global Axial Spondyloarthritis Management Industry Study
- The global Axial Spondyloarthritis management market is expected to grow with a 5.1% CAGR during 2023 to 2033.
- By end user, Hospitals are expected to hold 40% of the market share in 2023 for Axial Spondyloarthritis management market.
- North America is expected to possess 45% market share for Axial Spondyloarthritis management market in 2023.
- Europe Axial Spondyloarthritis management market size is expected to possess 39% market share in 2023.
“The expansion of indications for existing drugs is expected to drive growth in the market as more patients become eligible for treatment.” states an FMI analyst
Global Axial Spondyloarthritis Management Industry Competitive Landscape
Key players in the axial Spondyloarthritis management market are AbbVie, Pfizer, Amgen, Janssen Biotech, Pozen, Iroko Pharmaceuticals, Syntex Pharmaceuticals, Horizon Pharma, Eli Lilly and Company, Kyowa Kirin, Celgene, Inmagene Biopharmaceuticals
- AbbVie has been involved in research and education initiatives aimed at improving the understanding and management of axSpA. For example, the company sponsors educational programs for healthcare professionals and provides resources for patients with axSpA to help them better manage their condition.
- Amgen has approved Enbrel for axSpA management, and numerous clinical trials have demonstrated its effectiveness in reducing pain, stiffness, and inflammation in patients with axSpA. Amgen has also continued to invest in research aimed at improving the understanding and treatment of axSpA.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global Axial Spondyloarthritis management market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights based on Type (Ankylosing Spondylitis Treatment and Non-Radiographic Axial Spondyloarthritis Treatment Drug Class (Non-steroidal anti-inflammatory drugs, Glucocorticoids, Anti-rheumatic drugs) End User (Hospital, Clinics, Rehabilitation Centre, Academic Research Institutes), Region (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa)
Key Segments Profiled in the Global Axial Spondyloarthritis Management Industry Survey
Type:
- Ankylosing Spondylitis Treatment
- Non-Radiographic Axial Spondyloarthritis Treatment
Drug Class:
- Non-steroidal anti-inflammatory drugs
- Glucocorticoids
- Anti-rheumatic drugs
End User:
- Hospital
- Clinics
- Rehabilitation Centre
- Academic Research Institutes
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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